By Oliver Nabukeera
As economies grow in Africa, the demand for services is expected to increase which will offer numerous opportunities to inspired entrepreneurs. Household expenditure in the continent has increased over the years, resulting in rising consumer demand. Figures from the International Monetary Fund (IMF) in its Regional Economic Outlook for Sub-Saharan Africa (SSA) April 2014 reveal real GDP growth in SSA is forecast at 5.4 percent this year.
Currently Africa is home to seven of the 10 fastest growing economies in the world which has made it an attractive destination for many global businesses as well as opened new frontiers for trade and investment. In 2013, Africa’s share of global foreign direct investment (FDI) projects reached 5.7 percent its highest level in a decade.
In a press release sent to the CEO Magazine, DHL Express Head of Marketing Sumesh Rahavendra says this has created opportunities for Small and Medium Enterprises (SMEs) to fill the gaps which are not being serviced by large global companies.
“The growing interest from global parties is beneficial for much-needed foreign investment, local businesses should also be encouraged to capitalize on the continent’s increasing economic growth,